Following the mega appointment of Gerald Panneton as Prophecy’s (TSX: PCY) new President and CEO (Mr. Panneton was the founder and CEO of Detour Gold, a multi-billion dollar major gold producer in Canada, where he help raised $2.6 billion)
, Prophecy is on a blazing trail due to prying a top gun from McEwen Mining Corp. to permit arguably the most exciting vanadium project in the US. McEwen Mining (valued at $1 billion) is run by the legendary Rob McEwen, the ex-Chairman and CEO of GoldCorp Inc., one of largest gold-mining companies in the world.

Mr. Ron Espell, Prophecy’s new VP of Environmental and Sustainability is a highly-regarded specialist in US federal and Nevada state mine permitting. He has over 30 years of experience in corporate environmental management and permitting in conformance with applicable regulatory and performance standards, mine waste management, reclamation and closure planning.

Why Prophecy Matters

Prophecy Development Corp (TSX: PCY) owns the Gibellini project – the only large-scale, open-pit, heap-leach vanadium project of its kind in North America.

Located in Nevada, Gibellini has the largest NI 43-101 compliant measured and indicated primary vanadium resource in the USA. It is currently undergoing EPCM and EIS preparation.

With global vanadium supply declining and demand increasing, this is the right project at the right time. Trading millions of shares a day at $0.50, Prophecy has approximately 78 million shares outstanding.

5 reasons to follow Prophecy’s Gibellini Vanadium Project:

Located in Nevada, a premium location for mining-Ranked #1for North America mining investment (Fraser Institute)

Vanadiumprice has increased by more than 1000%since 2016 – from US$2.5/lb to US$33.1/lb on the back of strong demand and restricted supply

Low Capex, Low Opex, High IRR

Near Term Production– complete permitting in 2020, commence construction in 2021, start vanadium production in 2022

Vanadiumis key to the world’s green and renewable energy future!

Vanadium pentoxide price has reached an all-time high of $33.1/lb (www.vanadiumprice.com), up from 2016 low of $2.5/lb. This was due to the Chinese upgrade of vanadium intensity in steel re-enforcement bars in the construction industry, increasing vanadium use in the aerospace industry, and the use of large-scale vanadium batteries in the utility industry.

Within 18 months his joining McEwen Mining as Environmental Director, Mr. Espell had led his team to successfully obtain the Gold Bar project’s Environmental Impact Statement (EIS) approval from the Bureau of Land Management’s (BLM) Battle Mountain District office (November 2017).

Mr. Espell comments: “I am very pleased to join this dynamic Prophecy team to work on the exciting Gibellini vanadium project. I am confident about the project’s merits. Prophecy has already established very good project permit ground work, which I will continue with. I will collaborate closely with federal and state permitting agencies, local communities, and all stakeholders to make Gibellini the first primary vanadium mine in the US.”

With Espell’s appointment, Prophecy could complete the permitting process in 2019 and begin construction shortly after. That would make Gibellini the fastest primary vanadium mine to get to production in the USA.

Gibellini vs GoldBar Nearby and Same Size

The Gold Bar project is in Eureka County, Nevada, approximately 40 miles northwest of the Company’s Gibellini vanadium project. Both projects are overseen by the BLM Battle Mountain District office and share many similarities in terms of mining and recovery method, capital expenditure, and throughput.

Project

Gold Bar

Gibellini Vanadium

Owner

MUX.t

PCY.t

Recovery method

Heap Leach

Heap Leach

Strip Ratio waste tons / ore tons

3:1

lang="EN-CA">0.17:1

Throughput tons per day

8,000

8,220

Capex US$

$81 million

$121 million (includes 25% contingency)

EIS permit date

Nov-17

TBD

Commodity

Gold

Vanadium

Overseen by

BLM Battle Mountain

BLM Battle Mountain

Gerald Panneton, Prophecy’s President and CEO comments: “Ron has demonstrated his ability to deliver EIS in Nevada on time and under budget. He is an outstanding team leader with creative problem-solving skills. He pays meticulous attention to detail. His deep knowledge of environmental assessments and permitting and his well-liked persona make him a great pleasure to work. Ron is an excellent addition to our Prophecy team.”

“An updated, 2018 PEA pegged the after-tax NPV at US$338.3 million and the IRR at 50.8%. Gibellini contains 129.28 million pounds of vanadium pentoxide (V205) grading 0.294%. The current mine plan envisions producing 9.65 million pounds annually for over 13 years, paying back its capital cost of US$116.8 million in 1.72 years. The after tax net present value of the Gibellini vanadium project is north of US$338 million, meaning Prophecy is trading at a significant discount to its project value.

That was all done at a vanadium price of $12.73 per pound. Vanadium prices are currently twice that.

Shares have been as high at C$0.50 in the past year but now trade at ~C$0.285.We are buying Prophecy Development Corp. (TSX-V: PCY) (OTC: PRPCF) below C$0.50.”

Cautionary Note Regarding Forward-Looking Statements
The Table comparing mining attributes of Gold Bar and Gibellini projects: Both projects are located in Nevada, USA. The Gibellini project attributes are taken from its May 29, 2018 PEA, which includes inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. And there is no certainty that the PEA will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Certain statements contained in this news release (including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, and similar expressions) and statements related to matters which are not historical facts are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Prophecy’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions. They involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by such forward-looking statements.